212 Paradise S · Leesburg, FL 34788

$89,500

2 bd · 2.0 ba · 828 sqft · Condo public records · 246 Days on market

Built 1974 $215/mo HOA · 13% of rent ↓ 27% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come visit 55+ Molokai Co-op Mobile Home Park in Leesburg, Florida to see this move in ready, partially furnished home. A lot of work has been done such as roof coating, new flooring in both bedrooms, new skirting, and exterior paint. Nice backyard that gives privacy and it's located in a pet approved area! The laundry is conveniently located inside the unit leaving the attached shed for storage. Sliding door and ramp from master bedroom give added accessibility. Lovely club house and pool a short walk or golf cart ride away. Co-op monthly fee includes water, sewer, trash, basic cable and internet. Snowbird or full time living - Don't miss out on this one!

Key facts

• Vinyl flooring
• New skirting
• Updated home

Tags

• UPDATED HOME
• RESURFACED ROOF
• VINYL FLOORING
• FRESHLY PAINTED INTERIOR
• FRESHLY PAINTED EXTERIOR
• NEW SKIRTING

Property features AI

Finance

• Other: Total acreage: Less than 1/4 acre; Living area (public records): 828 sq ft; Building area total: 1442 sq ft; Total rooms: 8; Association fees: Total annual $2,580 (monthly $215)
• Financial info: Lease restrictions apply
• HOA & community: Has HOA; monthly fee $215 (required) — association name: Susan or Robert; approval required; Senior community; Pets allowed: Cats and dogs; Partially furnished

Exterior

• Parking: Driveway; Ground-level parking; Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected; Fiber optics available; Phone available; Sewer connected; Water connected; Sprinkler meter
• Home design: Residential mobile home (double wide); One story; Faces north; Entry level: One
• Construction: Vinyl siding with frame construction; Roof over; Crawlspace with pillar/post/pier foundation; Built (double wide mobile home)
• Exterior features: Rain gutters; Sliding doors; Storage; Irrigation equipment; Paved road (public maintained)

Interior

• Kitchen: Convection oven; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Thermostat; Walk-in closets
• Laundry & utility: Washer; Dryer; Laundry: Other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 4.5% in Leesburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Treadway Elementary School (math 53% / reading 48%, grade D+, #1,055 of 2,144 statewide, top 50%, 879 students, 66% FRL); Tavares High School (math 32% / reading 40%, grade F, #359 of 667 statewide, top 55%, 1,507 students, 45% FRL).
• Market conditions: 285 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.55%
• DSCR: 2.00
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.62×
• Total profit: $15,621
• Equity at exit: $13,345

10-year hold

• IRR: 24.2%
• Equity multiple: 3.11×
• Total profit: $52,768
• Equity at exit: $7,738

Cash invested: $25,060 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34788

• Home prices YoY: -18.2%
• Active inventory: 285
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,609 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$78 /mo · $942/yr
• Insurance: −$37
• HOA: −$215
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $471

Break-even live

Break-even rent $1,013

Max offer price $89,500

Occupancy floor 66%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32818 Lake Square Ct #10 Leesburg, FL	2.0	1.0	912	$1,200	$1.32	24d	1	0.71mi
32827 Blossom Ln Leesburg, FL	1.0	1.0	704	$950	$1.35	24d	1	0.80mi

HOA detail condo

• Monthly dues: $215 · $2,580/yr
• Likely covers: watersewertrashinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $89,500 Active 246 DOM
2. 2026-06-17
   days on market $89,500 Active 245 DOM
3. 2026-06-16
   days on market $89,500 Active 244 DOM
4. 2026-06-15
   days on market $89,500 Active 243 DOM
5. 2026-06-13
   pricedays on market $89,500 Active 241 DOM
6. 2026-06-09
   days on market $94,500 Active 237 DOM
7. 2026-06-08
   days on market $94,500 Active 236 DOM
8. 2026-06-07
   days on market $94,500 Active 235 DOM
9. 2026-06-04
   days on market $94,500 Active 232 DOM
10. 2026-06-03
    days on market $94,500 Active 231 DOM
11. 2026-06-02
    pricedays on market $94,500 Active 230 DOM
12. 2026-06-02
    days on market $98,500 Active 229 DOM
13. 2026-05-31
    days on market $98,500 Active 228 DOM
14. 2026-03-14
    price $98,500
15. 2026-02-09
    price $104,900
16. 2026-01-06
    price $109,900
17. 2025-10-15
    listed $114,900 Active
18. 2025-10-14
    soldstatus $120,000 666-char remark

    Show marketing remark (666 chars)

    Come visit 55+ Molokai Co-op Mobile Home Park in Leesburg, Florida to see this move in ready, partially furnished home. A lot of work has been done such as roof coating, new flooring in both bedrooms, new skirting, and exterior paint. Nice backyard that gives privacy and it's located in a pet approved area! The laundry is conveniently located inside the unit leaving the attached shed for storage. Sliding door and ramp from master bedroom give added accessibility. Lovely club house and pool a short walk or golf cart ride away. Co-op monthly fee includes water, sewer, trash, basic cable and internet. Snowbird or full time living - Don't miss out on this one!

19. 2025-10-14
    listed $120,000 666-char remark

    Show marketing remark (666 chars)

    Come visit 55+ Molokai Co-op Mobile Home Park in Leesburg, Florida to see this move in ready, partially furnished home. A lot of work has been done such as roof coating, new flooring in both bedrooms, new skirting, and exterior paint. Nice backyard that gives privacy and it's located in a pet approved area! The laundry is conveniently located inside the unit leaving the attached shed for storage. Sliding door and ramp from master bedroom give added accessibility. Lovely club house and pool a short walk or golf cart ride away. Co-op monthly fee includes water, sewer, trash, basic cable and internet. Snowbird or full time living - Don't miss out on this one!

20. 2025-07-10
    soldstatus $70,000 Closed 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

21. 2025-06-13
    status Pending 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

22. 2025-05-15
    price $70,000 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

23. 2025-04-01
    price $90,000 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

24. 2025-02-21
    price $104,900 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

25. 2025-01-17
    price $119,900 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

26. 2024-11-16
    price $125,000 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

27. 2024-09-06
    price $129,000 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

28. 2024-08-19
    listed $135,000 Active 311-char remark

    Show marketing remark (311 chars)

    Welcome to the 55+ Molokai Co-Op Mobile Home Park! This partially furnished double-wide mobile home is situated in the pet-friendly area of the community. Enjoy the benefits of ownership without the burden of lot rent. The Clubhouse provides numerous activities and clubs, along with access to a community pool.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $942 · $78/mo
• Projected year-2 tax: $942 · $78/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,305
• − Mortgage interest: −$5,013
• − Property taxes: −$942
• − Insurance: −$448
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − HOA: −$2,580
• − Depreciation: −$2,604
• Taxable income: $4,630
• Est. tax owed @ 24.0%: −$1,111
• After-tax cash flow: $4,539/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lake
• NCES district ID: 1201050
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $46,632
• Composite: 42.05/100
• National rank: #3327
• State rank: #37 of 73 in FL

Livability — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A+ Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 22,137
• Household income: $54,147
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 406.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 386,640 people
• By 2030: 417,107 · +7.9%
• By 2040: 476,676 · +23.3%
• By 2050: 531,296 · +37.4%
• By 2075: 648,303 · +67.7%
• By 2100: 698,530 · +80.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Lake

• 2024 margin: Strong R (+24.7) · D 37.3% · R 62.0%
• 2008→2024 swing: -11.2pp toward R · 2008: -13.5pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+20.0 2016: R+23.1 2012: R+17.1 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.07%
• Current HPI: 273.6616
• Rent YoY: —
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-27.0% since first listed

15 events — show timeline

• 2026-03-14 Price Changed $98,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $104,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $109,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-15 Listed $114,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-14 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-14 Sold (MLS) $120,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-10 Sold (MLS) $70,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-05-15 Price Changed $70,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Price Changed $90,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-21 Price Changed $104,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-17 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2024-11-16 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-06 Price Changed $129,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-19 Listed $135,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $942 · +3.9% YoY. Source: county tax records.